News & Views

The billion-dollar Hyatt Place Hotel, being developed by SIR Investments Inc, with Varaya Guyana Inc., as its primary contractor, is taking shape at its Providence, East Bank Demerara site. The Hyatt Place is one of several new accommodations bringing more rooms to Guyana’s demanding hospitality sector, with expectations for a mid-April 2026 completion. 

Bank of Jamaica (BOJ) Governor Richard Byles has rejected an International Monetary Fund (IMF) call to reduce intervention in the foreign currency market, stating those interventions are the “best way” to prevent erratic volatility in a market that his Senior Deputy Governor Wayne Robinson called “too small and fragile” to leave to its own devices. 

As this country’s Government remains silent on the impending United States (US) naval presence in the waters off the coast of Venezuela, the Venezuelan government is pledging a peaceful approach to this developing situation. In a statement yesterday the Bolivarian Republic of Venezuela said, “While Washington threatens, Venezuela advances firmly in peace and sovereignty, demonstrating that true effectiveness against crime is achieved by respecting the independence of peoples.” 

The Guyana Office for Investment is facilitating an investment of more than $10 billion to bring a Hyatt Place Hotel to Providence on the East Bank of Demerara. Located just 15 minutes from Georgetown, the property is situated near major landmarks, including the Amazonia Mall, the National Stadium, and the Demerara Harbour Bridge. 

The Bank of Jamaica (BOJ) left its key interest rate unchanged at 5.75 per cent on Wednesday, choosing to wait and see how global events play out before making its next move. The central bank said that while prices at home are rising at a manageable pace — helped by lower food and electricity costs — it is worried that inflation could be pushed higher later this year as conflicts and changing US trade policies could make the things Jamaica imports more expensive. 

The Grenada government says it is working in partnership with the St Kitts-based Eastern Caribbean  Central Bank (ECCB) to introduce a household retail bond as part of its debt management and citizen  investment strategy. It said the initiative will be outlined during the Financial Literacy Month during the month of October and  that the ECCB and other financial institutions will be involved in the campaign to educate the public about  making good financial decisions. 

The United States is deploying three Aegis guided-missile destroyers to the waters off Venezuela as part of President Donald Trump’s effort to combat threats from Latin American drug cartels, according to a U.S. official briefed on the planning. 

Bahamas Prime Minister Phillip Davis says while the construction boom is real, not many Bahamians are taking advantage of the situation. “The government I lead is not going to accept the idea that there aren’t enough trained Bahamians. We don’t write people off. We bring them in. We are investing in closing the skills gap. 

Speaking at a media briefing on Tuesday, PIOJ Director General Dr Wayne Henry said that, historically, periods of intense election campaigning tend to boost commerce due to increased spending. With Jamaicans expected to head to the polls on September 3, political activity has intensified, as supporters of the two main political parties rally to elect their preferred candidate for prime minister.